Page 73 - Finance Ministry

Finance Ministry ramps up efforts to meet direct tax collection targets

Field officers were asked to make efforts to identify and initiate actions against willful tax evaders or those using fake invoices or e-way Bills

Podcast: Nirmala Sitharaman's various moves to help revive the economy

Finance ministry is working out mechanism to release the money, stuck after it sanctioned the amount to other ministries & departments for various projects and schemes, to prop up the sagging economy

Govt sees nominal GDP at 12.2% till FY25; assuming average inflation of 4%

The Centre's budgetary support as a percentage of nominal GDP is expected to grow from 0.74% in 2019-20 to 1.11% in 2024-25

India Inc wants Centre to take more steps on ease of doing business

Industry representatives asked officials to "create more freedom for industry to perform"

Govt to fine firms with over Rs 50 cr revenue for not accepting UPI, RuPay

Companies with turnover of over Rs 50 crore to pay Rs 5,000 per day as penalty

Pre-budget meet: Bankers discuss taxation, certification with FM Sitharaman

NBFCs, too, made presentation to the Finance Minister

RBI to flag bad loan issues with Finance Ministry in pre-Budget meet

Fresh provisioning and telco loans to figure in pre-Budget meet. Inability to find resolution may put Rs 3.8 trn loans at risk

Govt's reform measures restored PSBs to health, 13 banks posted profits: FM

It said that PSBs have attached assets worth over Rs 2.3 lakh crore over the last three financial years

FM Sitharaman to meet CEOs of PSBs on Saturday to review their performance

The meeting is also expected to take up discussion on non-performing asset recovery through both NCLT and non-NCLT

FinMin asks GST Council to form grievance redressal mechanism for taxpayers

The proposal in this regard was approved last week by the GST Council

Subhash Garg explains why RBI's surplus profits belong to the govt

Over lunch with Arup Roychoudhury, Garg talks about his two years as finance secretary as the government went into an unprecedented confrontation with the Reserve Bank of India

Finance Ministry asks central, state depts to continue work with IDBI Bank

It can be noted that in January 2019, the insurance behemoth completed acquisition 51 percent stake in IDBI Bank, following which the Reserve Bank re-categorised it as a private sector bank.

Impact of GST will take time, results will not be visible overnight: Debroy

The GST collections came in at Rs 95,380 crore in October, down 5.29 per cent from Rs 1,00,710 crore in the same month last year, as per government data

Centre unlikely to extend 'Sabka Vishwas Scheme' beyond December 31

The Central Board of Indirect Taxes and Customs (CBIC) has asked its principal chief commissioners to be more proactive in persuading eligible taxpayers to take benefit of the Sabka Vishwas Scheme.

Budget 2020: IT firms want 15% corporate tax for services companies in SEZs

The sunset clause for SEZ nearing - March 31, 2020 - and the IT industry has been a big beneficiary of the policy

FM hints at I-T rate cuts, more stimulus measures to boost slowing economy

Says govt is taking steps towards a harassment-free taxation regime

CBDT issues draft notification on fund managers' remuneration, seeks inputs

The CBDT has sought inputs from stakeholders on draft notification proposing amendments December 19

FM Sitharaman assures states of releasing GST compensation dues soon

Sitharaman on Wednesday said the Centre was duty bound to safeguard the interest of states

Corporate tax for firms with over Rs 400 crore turnover to be cut gradually

Arun Jaitley, as finance minister last year, had cut the corporate income tax rate to 25 per cent for companies with a turnover of up to Rs 250 crore

Budget 2020: Finance ministry seeks suggestions on direct, indirect taxes

The move is estimated to result in Rs 1.45 trillion in revenue loss for the government during 2019-20